Flutter CEO sees bonus triple to £3.2m

Finance News

The chief executive of Flutter Entertainment, Peter Jackson, has seen his bonus almost triple last year to £3.2m / €3.7m.

Mr Jackson saw his bonus jump in 2023 from the £1.1m he received in 2022. In 2022, he also received almost £1.7m in long-term share incentive awards. 

Flutter Entertainment said in its latest report the bonus outcome reflects the impact of the legalisation of sports betting in the state of Kentucky, which was not known at the time the targets were set.

Under the weighting of individual elements that comprise the bonus formulation, revenue growth was the most important, accounting for 30pc of the weighting. Group adjusted Ebit and US adjusted Ebitda each accounted for 25pc of the weighting. Safer gambling measures accounted for 20pc.

Safer gambling measures were considered on a divisional basis, taking into account the different regulatory and societal environments they operate in and the varying levels of maturity on their progress on safer gambling,” notes the annual report. “This approach allows us to set robust targets which are meaningful, linked to divisional strategy and help to drive real change.

The targets included an unspecified percentage of FanDuel customers using at least one safer gambling tool. In Ireland and the UK, it was based on measures including the amount of revenue generated from customers who self-exclude.